Related Summaries

The European Commission has delayed until Sept. 1 a decision on whether U.S. derivatives rules match EU ones. If the European Securities and Markets Authority were to conclude that U.S. and EU rules are not "equivalent," U.S. companies doing business in Europe would have to abide by both sets of rules, which would be costly. The postponement allows the two sides to talk more about eliminating overlap.

Authorities in Singapore have censured 20 banks, accusing them of trying to manipulate interest rates. Issues related to manipulation of benchmarks appear increasingly widespread. "Banks and their regulators have to cap bank risk-taking behavior before meaningful change can occur," said Mark Williams, a finance professor at Boston University. "This is a global problem and not isolated to a few big banks."

Wall Street banks are again packaging a risky type of investment that was blamed for playing a key role in the financial crisis, synthetic collateralized debt obligations. JPMorgan Chase and Morgan Stanley are working on synthetic CDOs, which let investors bet on the credit strength of a basket of companies.

The Financial Industry Regulatory Authority is seeking information on synthetic collateralized debt obligations created by Barclays, Credit Suisse and Morgan Stanley, a source said. The regulator is looking into whether there were conflicts of interest when the banks bet against their own CDOs linked to home loans.

The Financial Industry Regulatory Authority is seeking information on synthetic collateralized debt obligations created by Barclays, Credit Suisse and Morgan Stanley, a source said. The regulator is looking into whether there were conflicts of interest when the banks bet against their own CDOs linked to home loans.